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ESI Strengthens Position for Sustainable Iron Flow Batteries in Queensland
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Rhea-AI Summary
Energy Storage Industries (ESI), based in Queensland, Australia, is advancing iron flow battery technology to boost the region's renewable energy capabilities. Key milestones include the completion of the first production batteries and recognition from government officials. ESI's batteries, with a 10-14 hour storage capacity and 25-year life cycle, are aimed at large-scale energy storage. The company is investing $70 million in a manufacturing plant in Maryborough, which is set to create up to 500 jobs by 2026. ESI's technology is backed by Munich Re, providing a 10-year performance guarantee for clients worldwide.
Positive
Achieved key milestones in iron flow battery technology, including successful commissioning.
Investment of $70 million in a manufacturing hub in Maryborough to create up to 500 jobs by 2026.
Partnership with Munich Re for a 10-year performance guarantee enhances customer confidence.
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BRISBANE, Australia--(BUSINESS WIRE)--
Energy Storage Industries — Asia Pacific (ESI) has strengthened the position of iron flow battery technology to secure Queensland’s future as a renewable energy superpower.
The Queensland-based, Australian-owned company has achieved a series of milestones this year. The first of ESI’s long-duration, grid-scale batteries completed the final stage of commissioning, the first production batteries are now being transported to a customer’s pilot site and the company’s technology has been recognised by Queensland’s Deputy Premier.
ESI Managing Director Stuart Parry said the value of iron flow technology was being recognised across industry and government in Queensland and around Australia.
“Queensland is at the forefront of battery technology development and ESI is helping reinforce this state’s reputation as a leader in the renewable energy economy,” he said. “We will continue to deliver on the promise of our leading-edge technology, which is critical to supplying Queensland’s and Australia’s long-term low-carbon energy needs.”
In January an ESI battery completed commissioning at the National Battery Testing Centre at Banyo in Brisbane, where it demonstrated its capabilities to capture surplus energy and return it to the grid at peak times. During two months of examination by Queensland University of Technology experts, the battery proved to be more than capable of performing in Australia’s harsh conditions.
Later in January, ESI welcomed representatives leading energy operators including the Queensland Government-owned Stanwell Corporation, a major provider of electricity and energy solutions, to Banyo to inspect our fully recyclable technology.
At the same time, the next 10 battery systems manufactured by ESI’s partner ESS Inc. (NYSE: GWH) in the United States started their journey across the Pacific Ocean, bound for the first of our client pilot sites. Ten additional battery systems will follow in coming weeks. From 2024 onward iron flow batteries will be assembled at ESI’s $70 million manufacturing plant in Maryborough, where civil works are underway to support the facility’s construction.
Deputy Premier Steven Miles visited ESI’s Maryborough site in January to launch Queensland’s Battery Strategy Discussion Paper to assess how the state can become a leader in energy storage technology. The paper highlighted the role of iron flow batteries in Queensland’s energy future. His visit was followed by Mike Kaiser, Director General of the Department of State Development, Infrastructure, Local Government and Planning, who commented that large, grid-scale batteries will be in heavy demand in Queensland and around the world as global electricity grids shift to renewable energy.
Mr Parry said: “We are grateful for the support of the Queensland Government in bringing this technology to scale. Localising assembly, testing and support will be critical to deploying at scale and the support we’ve received has been of immense value.”
ESI batteries will support customers and clients in wholesale electricity generation, energy retailers and customers in commercial and industrial sectors.
About Energy Storage Industries – Asia Pacific
Energy Storage Industries — Asia Pacific (ESI) is a Queensland-based, Australian-owned company that provides reliable and environmentally friendly renewable energy storage solutions that are essential for Australia’s transition to a renewable energy future.
We are investing up to $70 million in Maryborough to manufacture and distribute low-cost, long-life iron flow batteries that allow large-scale energy storage for wholesale electricity generators, energy retailers, and commercial and industrial (C&I) customers.
Construction of our Maryborough manufacturing hub began in early July 2022 with an official sod-turning ceremony performed by Deputy Premier the Hon Dr Steven Miles MP, State Member for Maryborough Mr Bruce Saunders MP, Fraser Coast Regional Council Mayor Cr George Seymour and Butchulla elder Eleanor Currie.
We are also investing in the manufacture of small, modular distributed energy storage units that can be installed in low-voltage networks and microgrids, and behind-the-meter installations for C&I customers.
ESI’s iron-flow batteries have a 10 to 14-hour storage capacity and life cycle of 25 years — something that is not provided by other battery technologies.
Our iron-flow batteries are completely sustainable and 100 per cent recyclable, and the environmentally friendly electrolyte means that the product is ideally suited to remote locations such as the National Parks and the Great Barrier Reef.
ESI is fully integrated — we manufacture, install, maintain and finance energy storage solutions.
Our iron-flow batteries use technology licensed from the United States — ESS Inc. Importantly, the technology is backed by leading global re-insurance company Munich Re, which mitigates risk for ESI’s customers.
Partnering with Munich RE, we have launched an industry-first insurance coverage for our battery flow technology. This world-first innovative policy means that our long-duration storage solutions are now backed by a full 10-year performance guarantee, regardless of project size or where it is located.
ESI provides a significant social and economic boost to the Australian community. Initially, we are investing up to $70 million to build a manufacturing hub in Maryborough. When fully operational in 2026, ESI we will have up to 500 highly skilled employees and contractors working at our facilities throughout regional Queensland.
ESI is run by a board and executive team that has decades of experience in the energy, manufacturing, technology and finance sectors. Importantly, they have a deep, end-to-end understanding of the energy value chain from technical operation of assets to energy trading.
